Formula One supremo Bernie Ecclestone could be forced from the sport he's controlled for 40 years due a criminal inquiry and lawsuit linked to a bribery scandal, British newspaper The Independent reported Friday night.
Ecclestone, 82, is under investigation in Germany over GG Consulting. That company set up by a German banker received $44 million from Ecclestone, money that was allegedly used to ensure the bank would sell its stake in F1 to CVC Capital. CVC Capital is a London-based private equity firm that controls a large percentage of F1 and has agreed to keep Ecclestone in charge.
The newspaper reports that German prosecutors are deciding whether to charge Ecclestone. There is also a separate lawsuit filed in New York over the same allegations.
Ecclestone said he was "absolutely not guilty" he paid a bribe or that banker, Gerhard Gribkowsky, was "shaking him down." He also told The Independent that he had no plans to retire, although he hinted there should be a succession pla...

You'll
also
receive Yardbarker's daily Top 10, featuring the best sports stories from around the web.
Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

Company Info

Help

What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.